Global Gold and Silver Prices Plummet on July 31, 2026

Gold and silver prices plummeted on July 31, 2026, as both precious metals faced selling pressure in the international market. In Pakistan's local bullion market, gold prices dropped to Rs432,000 per ounce, while silver rates fell to Rs6,300.

The price of gold in the international market declined by $28.40 per ounce compared to its previous level, with a recorded rate of $4,074 per ounce. The international silver price also moved downward, decreasing by $0.60 per ounce and standing at $58.30 per ounce.

Global factors such as currency movements, interest-rate expectations, inflation data, and geopolitical developments can impact gold prices. A stronger US dollar makes gold more expensive for buyers using other currencies, potentially reducing demand.